Your bank is offering you an account that will pay 23 % interest (an effective two-year rate) in total for a two-year deposit. Determine the equivalent discount rate for the following periods: a. Six months b. One year c. One month (Note: Be careful not to round any intermediate steps less than six decimal places.)

Determining equivalent discount rate for the following periods:

a. Six months:

= 23%/24 x 6 = 5.75%

b. One year:

= 23%/24 x 12 = 11.50%

c. One month:

= 23%/24 x 1 = 0.96%

Explanation:

The equivalent discount rate is the rate that is applied as if it were on a period basis, like 24 months or 2 years, 12 months or 1 year, 6 months or 1/2 year, etc.  It is a way of determining interest for a period that is more or less than a year.  It helps in the calculation of interest so that the rate applied conforms with the period covered by the interest.

answer; // there are violations that can cause injuries or death;

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number